Puneet Mehra11 April, 2019
The world is changing and so is KYC, all thanks to the digitalization. Gone are the days when the process of KYC (Know Your Client) required Aadhaar card and OTPs, now you can get yourself verified digitally through a video. All you have to do is open the front camera of your smartphone and speak the displayed numbers after you have uploaded your documents. This is indeed a fast step as compared to the paper-oriented KYC.
Richa Purohit18 April, 2019
UIDAI (Unique Identification Authority of India) issued a guideline in 2018 that made it mandatory for the asset management companies and distributors to discontinue the use of Aadhaar card for verification. And in this way Video KYC came into the picture.
Video KYC is a verification process in which the identity of an individual is verified online using a video.
Documents Required Before Video KYC-
- Aadhaar Card
- PAN Card
- Selfie (Video)
After you have uploaded all these documents in your KYC account, you are now ready for the video KYC.
Process of Video KYC
You will be required to click “Record Video” button. After tapping, your front camera will immediately come into operation and will display a number. Speaking the numbers correctly will make your verification step complete.
Video KYC has smoothen the process of verification and reduced the time consumption.